Capital Markets | Auto Finance News - Part 4

Lower Originations Prompt Rifco to Shrink Credit Line

Rifco National Auto Finance is shrinking its Wells Fargo-led credit facility to its lowest level, Chief Financial Officer Warren Van Orman told Auto Finance News. “Basically, in our current utilization and the way the cost structure is, it makes more sense to us to be at $65 million than at $100 million,” Van Orman said. […]

Federal Reserve Reveals Plans to Ease Stress Tests

The Federal Reserve is reducing the volatility of stress tests for the nation’s largest financial institutions, Federal Reserve Vice Chair for Supervision Randal Quarles said during a Nov. 9 speech at the Brookings Institution in Washington, D.C. The Fed is proposing changes that are designed to roll back Obama-era financial regulation, which consists of an […]

Tricolor Auto Preps First Rated Securitization

Buy-here, pay-here lender Tricolor Auto Acceptance LLC is preparing to issue its first rated securitization, a $101.7 million transaction slated to close Nov. 21, according to a Kroll Bond Rating Agency presale report released this week. The securitization is backed by loans with a weighted average Fico score of 583 and a weighted loan-to-value ratio […]

Rise of Speculative-Grade Auto ABS Causes Concern, S&P Says

The level of speculative-grade ABS outstandings is six times greater this year than it was in the lead up to the Great Recession in 2006, according to Amy Martin, S&P Global Ratings’ sector lead in U.S. auto ABS. It’s a stat that highlights why “caution is warranted,” in subprime deals today, she said during a […]

Captives at ABS East Confident in Used-Vehicle Values

MIAMI — Captives are confident that the used-car market will remain stable despite the uptick in consumer demand toward SUVs and trucks, panelist discussed during ABS East 2018 on Monday. “We don’t expect any crash,” Stefan Glebke, president of BMW US Captial, said during the panel, noting that the captive ensures supply is there as […]

4 Auto Finance Trends Shaping the Chinese Market

It’s clear that China’s auto finance market is vastly different from the United States, but it’s hard to conceptualize those differences until you’re on the ground facing them head-on. In hosting the Auto Finance Summit Asia earlier this month, the AFN team learned a lot about the industry as it exists in China from difficulties […]
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